1/7/2025

-

mins read

Philippines Newsletter - July 2025

Philippines Newsletter - July 2025

Market summary

The Philippine deal landscape in July 2025 was highlighted with announcements in various sectors including Financial Services, Energies, Real Estate and Healthcare

  • Fundraising dominated the month, particularly by financial institutions, with BDO (USD2.0bn), RCBC (USD212.3m) and DBP (USD143.5m) raising fresh capital through peso-dominated sustainability and fixed-rate bonds.
  • In energy, I Squared Capital committed an additional USD350m to solar platform HEXA Renewables, while ib vogt secured USD80m in green financing from HSBC. Petron also raised USD556.5m via bond issuance to close its funding program.
  • Strategic activity included GIP’s planned 40% acquisition in Aboitiz InfraCapital and Macquarie Capital’s tower stake divestment, reinforcing investor appetite for long-term infrastructure assets.
  • Bon Secours Mercy Health pledged up to USD500m to develop a hospital in the Philippines, highlighting rising interest in healthcare infrastructure.

Overall, investor sentiment remained positive toward Philippine assets with long-term growth drivers such as clean energy, financial inclusion, and healthcare access.

*Aggregate Deal Values = c. USD26.28m

This month’s top deals

Energy and Utilities

I Squared Capital is looking to invest more in the Philippines

I Squared Capital plans an additional USD350 million investments for HEXA Renewables, which is developing a 1.5-gigawatt pipeline of utility-scale renewable projects, including a 280-megawatt solar facility in Batangas.

Article link:

I Squared Capital is looking to invest more in the Philippines

ib vogt secures green financing for power renewable projects in the Philippines

International solar develop “ib vogt” has announced that it has reached financial close for its Tantangan solar power project in the Philippines. The project has secured PHP4.49 billion (approximately USD80 million) in green financing from HSBC, which will support the development and construction of a 99 MWp solar photovoltaic (PV) plant in South Cotabato. This project is set to play an important role in delivering affordable and renewable electricity to the region, contributing to the Philippines’ national clean energy transition goals.

Article link:

ib vogt secures green financing for power renewable projects in the Philippines

Petron successfully raised PHP32 billion through fixed rate bonds

Petron Corporation, the country’s largest oil company, successfully raised PHP32 billion through its issuance of fixed rate bonds listed today, July 7, on the Philippine Dealing and Exchange Corporation (PDEx). The issuance marks the final tranche of the company’s PHP50-billion shelf registration approved by the Securities and Exchange Commission (SEC).

Article link:

Petron successfully raised PHP32 billion through fixed rate bonds

Telecommunications & Media

Macquarie seeks new advisor for Philippines tower sale

Macquarie Capital is seeking a new advisor to sell its entire 45% stake in a Philippines telecommunications tower operator, two sources familiar said. The Australia-based investor’s advisory and principle investing unit is holding a bake-off for potential advisors after distributing request for proposals, according to one of the sources.

Article link:

Macquarie seeks new advisor for Philippines towers sale

Real Estate

SSS acquires a stake in Trump Tower builder

Century Properties Group, Inc. (CPG) announced that the Social Security System (SSS) acquired a strategic stake in the company through a block sale, marking a significant milestone for CPG. Century Properties, Inc. (CPI), the majority shareholder of CPG, sold 740,740,741 common shares, with a transaction value of Php500 million, to SSS.

Article link:

SSS acquires a stake in Trump Tower builder

Filinvest gets PSE approval for PHP8 billion preferred share offer

GOTIANUN-LED conglomerate Filinvest Development Corp. (FDC) has secured approval from the Philippine Stock Exchange, Inc. (PSE) for its planned PHP8 billion preferred share offering.

Article link:

Filinvest gets PSE approval for PHP8 billion preferred share offer

Healthcare & Life Science

US healthcare group pledges USD500 million hospital investment in the Philippines

US HEALTHCARE GROUP Bon Secours Mercy Health (BSMH) has committed to invest up to USD500 million to develop a hospital in the Philippines, a presidential adviser said.

Article link:

US healthcare group pledges USD500 million hospital investment in the Philippines

Financial Services

BDO raises USD2 billion from sustainability bonds

Philippine lender BDO Unibank Inc. has announced raising 115 billion pesos (USD2 billion) from its fourth peso-denominated ASEAN sustainability bond issuance. In a statement, the bank said the amount raised was significantly higher than its initial target of 5 billion pesos due to strong demand from the retail and institutional investors.

Article link:

BDO raises USD2 billion from sustainability bonds.

DBP nets PHP8.5 billion from latest bond offer

THE DEVELOPMENT Bank of the Philippines (DBP) has raised PHP8.25 billion in fresh funds from its second dual-tenor bond offering for this year. DBP President and Chief Executive Officer Michael O. de Jesus said in a statement that this was above the minimum issue size of PHP5 billion and marked the seventh drawdown under its expanded PHP150 billion bond program.

Article link:

DBP nets PHP8.5 billion from latest bond offer

RCBC raises PHP12.21 billion via sustainability bonds

RIZAL COMMERCIAL Banking Corp. (RCBC) has raised PHP12.21 billion from its offering of peso-denominated 2.5-year sustainability bonds.

Article link:

RCBC raises PHP12.21 billion via sustainability bonds

Other

SEC approves casino operator's PHP11.4 billion IPO

The Securities and Exchange Commission (SEC) said it approved the initial public offering (IPO) of Hann Holdings Inc. The SEC said that at its July 17 meeting, the commission en banc resolved to make effective the registration statement of Hann Holdings, covering up to 2,500,003,000 common shares. This is subject to the company’s compliance with certain remaining requirements.

Article link:

SEC approves casino operator Hann Holdings’ PHP11.4 billion initial public offering

Note: Deal values only include disclosed completed deals with amounts restricted to local scene i.e. amounts related to the Philippine entity and/or business. Rumored deals and announced deals are not included in the aggregated value. Cross-posted deals are also adjusted to avoid double count.

*USD 1.00 = PHP57.50 as of 06/08/2025